Bayside Melbourne full of weekend auction action

Bayside Melbourne full of weekend auction action
Bayside Melbourne full of weekend auction action

Much of the weekend Melbourne action was bayside.

The top auction result was $6.5 million in Brighton when 204 Esplanade (above) was sold as a likely development site.

The four bedroom brick 1980s house that last traded in the 1970s sits on 1234 sqm near the sea baths.

Agent Kyle Charlton was suggesting one of very few undeveloped home sites left on the ‍Esplanade would fetch $5 million to $5.5 million.

The weekend's cheapest result across the nation was also in Melbourne at $194,000 in St Kilda.

It was a 1960s studio apartment - just 25 sq m - that had previously traded at $123,000 in 2006.

Bayside Melbourne full of weekend auction action

The 6/27 Waterloo Crescent (above) studio has been a $270 a week rental.

There was also significant interest in the nearby 1880s home offering at 7 Robe Street, St Kilda (below) which sold at $2.72 million through Marshall White’s Michael Paproth and Daniel McGuire who were expecting more than $2.2 million.

Bayside Melbourne full of weekend auction action

The renovated, double storey three-bedroom plus study home last sold at $1.925 million in 2009 when sold by two-time Olympic Gold medallist Nick Green who paid $1.15 million in 2002.

The injured Western Bulldogs young gun midfielder Mitch Wallis secured $1.07 million post-auction for his weekend Port Melbourne apartment offering.

Wallis’s two-bedroom apartment at 133/95 Rouse St, Port Melbourne (below) passed in to an investor at $1.06 million with RT Edgar agent Gerald Betts negotiating a sale soon afterwards.

Bayside Melbourne full of weekend auction action

The 23-year-old AFL footballer - who bought his [email protected] apartment five years ago for $900,000 - and his partner, nurse Emily Clemmens have purchased a house in nearby Albert Park.

CoreLogic's national preliminary auction clearance rate sat at 76 percent across the combined capital cities.

Some 2,026 total auctions were held across the capital cities, higher than last week, when 1,899 auctions were held, but remaining lower than one year ago at 2,654.

The clearance rate was down slightly from last week’s clearance rate of 77 percent, which was the highest clearance rate recorded for the year to date.

At the same time last year the clearance rate was 71 percent and in noticeable decline.

In Melbourne, a preliminary auction clearance rate of 78 percent was recorded, slightly lower than last week.

There were 978 auctions held across the city, up from 830 but lower than the 1,189 auctions held one year ago.

Across Sydney, 720 homes were taken to auction - with 550 on Saturday - with a preliminary clearance rate of 80 percent. It mirrored the 80 percent across 747 auctions.

"One year ago, 1,075 Sydney homes were taken to auction and the clearance rate was 73.1 percent," CoreLogic's Kevin Brogan said.

Brisbane was host to 148 auctions this week and its 55 percent success rate was up from 52.2 percent last week and higher than one year ago, when 50 percent of the 179 properties taken to auction were successful.

Domain had Brisbane prices ranging from $255,000 at Beenleigh to $2.125 million at Windsor.

Sales included a restored 1894 colonial house in Indooroopilly (below) which fetched $1.6 million with 16 registered bidders keen to secure 19 Jackson Street.

Bayside Melbourne full of weekend auction action

It sold prior to its renovation at $745,000 in 2004.

Adelaide recorded a clearance rate of 76 percent across 88 auctions this week.

Across Canberra a total of 60 auctions were held this week, compared to 77 last week and 79 at the same time last year.

Canberra prices ranged from $357,000 in Holt to $2.98 million in Forrest.

Canberra’s preliminary clearance rate of 78 percent well up from 65 percent at the same time last year.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Melbourne Residential Auctions

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